Another interesting week in the Northern Virginia housing market … Interest rates are DOWN and inventory is…. check out my latest Market Minute for more info.
Interested in learning more about selling your home or buying a new one? Feel free to give me a call at 703-652-5777 or scottmacdonald@remax.net
Happy Earth Day!
Captials, Wizards, Nationals – our local teams are HOT – so is the housing market! Check out what Scott has to say in this week’s Market Minute.
Have a great weekend!
Questions about the market or your specific situation? Feel free to give me a call at 703-652-5777 or scottmacdonald@remax.net
Today’s Peak Performer Series message is about the importance of being nice. There are reasons why people remember you and reasons why they want to forget you. Don’t you want to be someone people remember?? Check out my quick video for more on a topic that means a lot to me.
Need more motivation – feel free to contact me at 703-652-5777 or scottmacdonald@remax.net
And don’t forget to subscribe to my blog at www.scottymacsblog.com
Now go sell something!
The Northern Virginia real estate market has been a lot like our weather in March…hot and cold. We’ve had some markets that have been on fire – Reston as an example; while others have been normal which makes Realtors and sellers feel on edge or think that the market is “cold”. It is extremely important to have the right expectation when selling your house – not every house sells in a day with multiple contracts. Many houses take a couple of months to sell. The current average is 62 days on the market in Northern Virginia. This is below the national average so we still have a great market. Buyers are buying and as result, the supply of existing houses for sale is down to a 1.2 month supply of homes. So, my advice is to be realistic if you are going to be selling your house and if you get a contract quickly, make the most of it, but don’t expect the process to happen fast.
Again, the good news is that sales are up 6% over last year, sales prices are up 2.8%, mortgage interest rates are still phenomenal and the inventory levels are increasing – so we should continue to see a good spring market. Even with inventory levels increasing, we are still 19% below last year’s levels. My belief is this will continue to happen for the next few months – inventory will rise but we will still lag behind previous years because we have strong fundamentals in place for a good housing market.
If rates continue to rise as a result of “Trumpenomics”, buyers will and should consider adjustable rate mortgages. Typically, ARM products like a 7/1 ARM run about ¾ of a point less in interest rates. As an example, 30 year fixed rates are about 4.25% and a 7/1 ARM is about 3.5% – definitely something to consider when buying a house today.
We can discuss your plans in more detail to see if this is a viable option for you. Please let me know if you have any specific questions or concerns as I am here to help!
Happy Spring Break and Easter!
Would you like to learn more? Give me a call at 703-652-5777 or scottmacdonald@remax.net
Peak Performer Series – About Success, Continued…
How do you reach the next level of success? What is your passion? What is your why? Check out this short video to learn more about doing what you are passionate and how it will help you reach the next level of success!
Need more motivation? Give Scott a call at 703-652-5777 or scottmacdonald@remax.net
Today’s Peak Performer message is about SUCCESS! Success has a lot to do with just showing up! Be present and learn more about success in Scott’s latest video!
Need more motivation? Give Scott a call at 703-652-5777 or scottmacdonald@remax.net
|
This week in Northern Virginia Real Estate … it’s CRAZY out there… just like the weather!
Interested in putting your house on the market or finding your perfect home? Give me a call 703-652-5777 or scottmacdonald@remax.net
In this new motivational series, Scott will highlight how to become a Peak Performer.
Step FOUR – Part of your daily routine should include following up and following through with people – when you tell someone you are going to do something for them, do it! Be reliable and accountable; this will lead to your success down the road. Watch this video to learn more….
Need more motivation – feel free to contact Scott at 703-652-5777 or scottmacdonald@remax.net
And don’t forget to subscribe to my blog at www.scottymacsblog.com
Now go sell something!
The real estate market in Northern Virginia continues its roll into the Spring selling season. Inventory on resale homes has risen slightly, but so have sales. The slight rise in interest rates have not slowed things down and we don’t expect anything to change. The nice thing if you are looking to buy, you now have more selection – but if the house is in great condition, you will be in a competitive situation. You will definitely want to put your best foot forward in this type of buying scenario.
Here are a few tips to consider when looking to buy a home:
These tips won’t guarantee you will get the house, but they will help.
If you are thinking of buying, please call me to discuss your situation in more detail and how we can make these suggestions work for you. If you are selling, I have strategies to discuss with you on pricing, staging, and how to handle multiple contracts when they come in on your house – if you don’t want to wait until next month.
Happy Spring!
You can reach me at scottmacdonald@macdonaldhomes.com or 703-652-5777
